Catalyst Capital Advisors LLC Takes $420,000 Position in ServiceNow, Inc. (NYSE:NOW)

Catalyst Capital Advisors LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 527 shares of the information technology services provider's stock, valued at approximately $420,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after purchasing an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC boosted its position in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC boosted its position in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after buying an additional 100,670 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel owned 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 in the last ninety days. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on NOW. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Canaccord Genuity Group decreased their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Evercore ISI lifted their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow Stock Performance

NOW stock traded up $36.27 during mid-day trading on Friday, reaching $1,046.03. 1,205,886 shares of the stock traded hands, compared to its average volume of 1,486,285. The firm has a market capitalization of $216.51 billion, a PE ratio of 142.12, a P/E/G ratio of 4.80 and a beta of 0.94. The business has a 50-day moving average of $1,003.94 and a two-hundred day moving average of $963.64. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.41 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.